Updated Jun 15, 2026 – 9.19am, first published at 8.56amThe ASX has admitted a statement it made in early 2022 about the status of a major technology upgrade was misleading, and has agreed to a $20.5 million penalty to settle proceedings brought by the corporate regulator, hours before a trial was due to begin on Monday morning.ASX Limited and the Australian Securities and Investments Commission will now seek Federal Court approval for a settlement deal that will also result in the company paying $3 million of the regulator’s costs.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
ASX admits to misleading statement on CHESS, will pay $20.5m penalty
The market operator has settled a case with ASIC on the day a trial was due to begin, with chairman David Clarke admitting the exchange “fell short”.
TL;DRAI
ASX admitted a misleading 2022 statement about CHESS upgrade status, settling with ASIC for $20.5 million penalty. The settlement signals severe compliance risk for infrastructure operators misrepresenting critical projects; transparent stakeholder communication on strategic tech initiatives is mandatory to avoid material regulatory penalties.
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